The new option is called Ethica and it excludes investments "that have an adverse impact on community values."
Aventine principal Michael Chamberlain says the fund will be looking to invest in organisations that adopt sustainable practices, good governance and don't have a permanent negative long-term environmental impact.
"There is a growing demand for a balanced socially responsible investment option," he says.
"We are happy to provide the first balanced option for the KiwiSaver market," he says.
"The challenge was to establish an investment option that adopted sound, best practice investment principles and that was aligned with the values and beliefs of New Zealanders who are concerned about New Zealand, our collective future and our individual rights and freedoms. We did not simply want to jump on the bandwagon and go for a high profile, big brand and ignore what makes sense from an investment standpoint".
"Ethica combines SuperLife's low cost, low transaction investment principles with our members' collective community values. By adopting a balanced approach to the different asset classes and to investments within an asset class, members will benefit from diversification.
"Ethica is a simple 'tick-the-box' option for savers who want a socially responsible, low cost KiwiSaver option.
With the investment opportunities available today, we expect the average return to be competitive over the long-term but like all investments, the year-by-year return will move around the average."
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